BREAKINGVIEWS-Santander’s Wall Street journey takes SPAC detour

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

By Liam Proud

LONDON, Aug 27 (Reuters Breakingviews) - The Spanish lender has grabbed 8% of the resurgent US market for blank-check IPOs as part of an investment banking push. Though the product has a history of losses, there’s no obvious risk for Santander. But there’s also no obvious fit with its core retail and corporate units.

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CONTEXT NEWS

Banco Santander holds a 7.9% share of the market for initial public offerings of U.S. special purpose acquisition companies so far in 2025, according to SPAC Research data based on bookrunner volumes.

(Editing by Peter Thal Larsen; Production by Oliver Taslic)

((For previous columns by the author, Reuters customers can click on PROUD/liam.proud@thomsonreuters.com))

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